Immunome (NASDAQ:IMNM) Trading Down 5.4% – Here’s Why

Immunome, Inc. (NASDAQ:IMNM)’s stock price dropped 5.4% during trading on Friday . The company traded as low as $21.90 and last traded at $21.7280. Approximately 247,516 shares changed hands during trading, a decline of 82% from the average daily volume of 1,358,743 shares. The stock had previously closed at $22.96.

Analyst Upgrades and Downgrades

IMNM has been the topic of a number of recent analyst reports. Craig Hallum raised their price target on Immunome from $33.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Immunome in a report on Wednesday, May 13th. Truist Financial raised Immunome to a “strong-buy” rating in a report on Monday, May 4th. Leerink Partners decreased their price target on Immunome from $37.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Finally, Wall Street Zen raised Immunome from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.82.

Immunome Price Performance

The stock has a market cap of $2.51 billion, a PE ratio of -9.29 and a beta of 2.11. The stock has a 50-day moving average price of $21.94 and a two-hundred day moving average price of $21.36.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.12. Equities research analysts expect that Immunome, Inc. will post -2.26 earnings per share for the current year.

Insider Transactions at Immunome

In other news, Director Jean Jacques Bienaime acquired 5,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was purchased at an average price of $20.70 per share, for a total transaction of $103,500.00. Following the completion of the transaction, the director directly owned 43,415 shares in the company, valued at approximately $898,690.50. This trade represents a 13.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jack Higgins sold 9,438 shares of Immunome stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $21.64, for a total value of $204,238.32. Following the completion of the transaction, the insider owned 22,000 shares of the company’s stock, valued at approximately $476,080. This represents a 30.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 139,438 shares of company stock worth $2,964,664. 7.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMNM. T. Rowe Price Investment Management Inc. grew its position in Immunome by 59.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,421,987 shares of the company’s stock worth $288,305,000 after acquiring an additional 5,003,824 shares in the last quarter. JPMorgan Chase & Co. grew its position in Immunome by 8,659.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,855,747 shares of the company’s stock worth $61,341,000 after acquiring an additional 2,823,144 shares in the last quarter. Primecap Management Co. CA grew its position in Immunome by 55.2% in the fourth quarter. Primecap Management Co. CA now owns 4,685,441 shares of the company’s stock worth $100,643,000 after acquiring an additional 1,667,432 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Immunome in the fourth quarter worth about $30,710,000. Finally, Sofinnova Investments Inc. grew its position in Immunome by 271.2% in the fourth quarter. Sofinnova Investments Inc. now owns 1,618,477 shares of the company’s stock worth $34,765,000 after acquiring an additional 1,182,426 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Immunome Company Profile

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome’s approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company’s lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.